Kama (Bama Mining) Hits Buy Queue on Tuesday, Mordad 20; Order Book Shows Only Buyers on All Five Levels as Volume Passes Its Monthly Average

Midday Tuesday, Mordad 20, 1405 (August 11, 2026), Kama (Bama Mining and Industrial Co., ticker BAMA) rose 2.83 percent to 4,000 rials on Tehran Stock Exchange's second market and hit its buy queue, the exchange's price-limit-up state. As of the order book's last update at 9:20am Tehran time, all five price levels showed buy orders only, with zero sell orders anywhere on the book; trading volume had already passed a full trading day's monthly average within the session's first half hour.

Background

Kama has climbed in a fairly steady line since the start of Mordad: its closing price rose from about 3,320 rials on Mordad 1 (July 23) to 3,410 on Mordad 2, 3,510 on Mordad 3, 3,610 on Mordad 5, and 3,710 on Mordad 17 (August 8), then closed Monday, Mordad 19 (August 10) at 3,890 rials, a roughly 17 percent gain in under two weeks. Sahmino reported separately on Tir 23 (July 14) that Kama's net profit had roughly quadrupled year on year, but a large part of that jump came from foreign-exchange revaluation and asset-revaluation gains rather than operating improvement; that earnings-quality question is still open, and the profit figure should not be read as a quadrupling of the underlying business.

The board at a glance

From Sahmino's live Kama price page, as of 9:20am Tehran time today:

• Last and closing price: 4,000 rials (400 toman), up 2.83 percent from yesterday's close of 3,890 rials
• Today's price band: 3,780 to 4,000 rials; the price is sitting at the ceiling of that band
• Order book: across all five price levels (4,000 down to 3,960 rials), roughly 66.9 million shares of demand from 349 buy orders, against zero sell orders on any of the five levels
• Volume and value: 2,309 trades, about 234.1 million shares worth approximately 93.6 billion toman so far
• Versus the average: Kama's one-month average daily volume is about 183.6 million shares, meaning today's volume passed a full day's average inside the first half hour of trading
• Retail vs institutional today: retail traders bought 200.5 million shares and sold 118.7 million (net buying of about 81.9 million shares); institutions bought 43.3 million shares and sold 125.1 million (net selling of about 81.9 million shares)
• Buyer-to-seller strength: today's ratio of average retail buy ticket to average retail sell ticket is 0.57, meaning that despite buyers dominating on volume, the average buyer's ticket size was smaller than the average seller's
• Fundamentals: trailing-twelve-month EPS of 786 rials, a P/E near 5.1 against the metallic-ore-mining sector's average P/E of about 10.6; free float of 38 percent and a market cap of roughly 17 trillion toman (about 17,000 billion toman)

Drivers

Retail buying in Kama is not new. Across five Tehran Stock Exchange sessions on Mordad 11, 12, 13, 14 and 17 (August 2, 3, 4, 5 and 8), retail traders were net buyers every single day, with combined net buying above 280 million shares. The one exception was Sunday, Mordad 18 (August 9): that day institutions bought 240.8 million shares against 73.5 million sold, a net purchase of about 167 million shares, while retail traders net-sold about 167.3 million shares in the same session, meaning institutions absorbed that day's retail supply. The next day, Monday Mordad 19 (August 10), retail traders resumed net buying, though more modestly (net 13.6 million shares), but that day's average retail buy ticket (about 163 million toman) was more than double the average sell ticket (about 72 million toman), a sign of larger baskets moving to the buy side. Today that pattern has continued in the form of a net buy queue: retail traders net-bought 81.9 million shares while institutions supplied almost exactly that amount; in other words, institutions have so far been the only source of supply large enough to keep the board trading at all, or the queue would likely have locked shut sooner.

Alongside the retail/institutional flow, relative valuation may explain part of the demand: Kama's P/E of about 5.1 against the metallic-ore-mining sector's average of 10.6 makes the stock look cheap on the surface, though that comparison alone is not sufficient reason for a buy queue and should be read alongside the earnings-quality caveat above. Kama's free float is 38 percent; a relatively narrow float combined with concentrated demand can sharpen price swings on days like this.

Outlook

The order book is a point-in-time snapshot, not an established trend; today's buy queue carries no guarantee of continuing into future sessions. Against Sahmino's internal flow-signal test (a buyer-strength ratio above 1, volume at least twice the monthly average, and positive net retail buying), today's second and third conditions are met, but the buyer-to-seller strength ratio (0.57) still sits below the threshold of 1: despite the one-sided order book, the combined signal has not fully "confirmed." Kama is not currently under the exchange's special supervision flag. Where the stock goes next depends on whether institutions keep supplying at a similar pace in coming sessions; this report offers no price forecast and no buy or sell recommendation.

Bottom line

Kama traded today, Tuesday Mordad 20, with a full buy queue and a board showing no sell-side supply across all five price levels, while trading volume passed a full month's daily average within the opening minutes. The key point is that this demand has been mostly retail, against institutional supply, and unlike the Mordad 18 session when institutions were the dominant buyers, today it was retail traders holding the queue open. The one note of caution in today's numbers is the comparatively smaller average buy ticket versus the average sell ticket, a reminder that high volume does not automatically mean large money is coming in.

What to watch

• Whether Kama's buy queue holds through the end of today's session (until 12:30pm Tehran time) or institutions bring more supply to the book
• The retail buy-to-sell ticket-size ratio in coming sessions, and whether it crosses back above the threshold of 1
• The price reaction to the new trading band in Wednesday's session, Mordad 21
• Any Codal disclosure or exchange supervisor message on Kama in the coming days